Reduce Cognitive Load for Better Conversion

A significant issue facing financial brands is the overwhelming number of choices and decisions account holders and prospective account holders face daily. This cognitive load can lead to a poor shopping experience on financial websites, resulting in the loss of millions in loans and deposits.

Jon MacDonald, founder and CEO The Good, and author of Behind the Click, suggests financial brands engage in proactive communication and undergo user testing to truly understand customer needs. Jon joins this episode of the Exponential Insights series to discuss the importance of personalized digital experiences and removing barriers for both types of consumers — "satisficers" looking for quick solutions and "maximizers" seeking detailed information. He also discusses why post-purchase communication is critical to meet customer expectations, fostering positive emotions and encouraging advocacy.

Key Insights and Takeaways